I don’t expect this tax bill to create jobs or growth. Why would it? The trickle down effect, where in companies have more expendable cash and use it to expand, can work in the right economic environment. This is not the right environment. Corporations have been spending excess cash buying their own stock. They aren’t short of cash. They are short of opportunities for growth.

I don’t expect this tax bill to create jobs or growth. Why would it? The trickle down effect, where in companies have more expendable cash and use it to expand, can work in the right economic environment. This is not the right environment. Corporations have been spending excess cash buying their own stock. They aren’t short of cash. They are short of opportunities for growth.

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That appears to be a result of regulatory drag as in all increases in employment and GDP growth since the election can be accounted for by reduced regulation burden. A 5-10% tariff on imported non-food goods would be a good second stage for employment growth.

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